Oppenheimer & Co. Inc. Sells 66 Shares of Globant S.A. (NYSE:GLOB)

Oppenheimer & Co. Inc. cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,674 shares of the information technology services provider’s stock after selling 66 shares during the period. Oppenheimer & Co. Inc.’s holdings in Globant were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its position in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after purchasing an additional 1,431,112 shares during the period. Manning & Napier Advisors LLC bought a new stake in Globant during the 2nd quarter worth approximately $99,396,000. Dimensional Fund Advisors LP raised its holdings in Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after buying an additional 161,512 shares during the period. Sei Investments Co. lifted its stake in Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Globant by 89.9% in the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after buying an additional 126,030 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 11.1 %

Shares of GLOB stock opened at $203.29 on Monday. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a market capitalization of $8.76 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39. The firm has a 50 day moving average price of $208.98 and a two-hundred day moving average price of $191.09.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.87% and a net margin of 7.20%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same period last year, the firm posted $1.04 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, research analysts expect that Globant S.A. will post 5.06 EPS for the current year.

Analyst Upgrades and Downgrades

GLOB has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. increased their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Scotiabank raised their price target on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.